This leading battery manufacturing company's shares skyrocketed by 10%; do you know why?
Amara Raja Batteries zoomed on reporting a 39% rise in Q2 consolidated net profit.
Amara Raja Batteries' share price is currently Rs 569.10, up 56.30 points or 9.55% from when it last closed on the BSE at Rs 519.80. The stock's opening price was Rs 548.00, and it has since reached highs of Rs 579.75 and lows of Rs 543.05, respectively. A 52-week high of Rs 713.75 and a 52-week low of Rs. 438.15 have both been reached by the BSE group "A" stock, which has a face value of Rs 1.
Results for the second quarter that concluded on September 30, 2022, have been released by Amara Raja Batteries. In the quarter under review, the company's net profit increased by 40.28% to Rs 202.17 crore from Rs 144.12 crore in the same period the year prior. When compared to the same quarter last year, the company's total revenue climbed by 18.88% to Rs 2723.13 crore.
When seen as a whole, the company's net profit increased by 39.43% to Rs 201.22 crore for the quarter under review from Rs 144.32 crore for the same period the year prior. In comparison to the same quarter last year, the company's total revenue climbed by 18.94% to Rs 2724.44 crore.
The flagship company of the Amara Raja Group, Amara Raja Batteries Limited (ARBL), is a leader in technology and one of the biggest producers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery market.
Reputable original equipment manufacturers are some of ARBL's clients. Batteries for industrial and automotive use are exported by the company to 32 nations worldwide. Major telecom service providers, telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and Power, Oil & Gas, and other industrial areas in India all chose Amara Raja as their preferred supplier.
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